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Ukoil: low wide range oscillation pull up
2022-08-11
1337
Fundamental analysis:
The oil distribution remained fluctuating around 96.992, and the crude oil export volume of the United States in the week ended August 5 was the lowest since the week of January 7, 2022; Domestic crude oil production was the highest since the week of April 17, 2020.
Oil distribution ukoil - 4-hour K-line diagram shows:
Technical analysis:
According to the 4-hour chart, the low bulls started to move up slowly after maintaining the narrow amplitude shock consolidation, and the low bulls continued to move upward. The MACD index was in the short area, and the consolidation moved up to the lower side of the 0 axis, and the RSI index was in the weak consolidation near the 50 equilibrium line;
Long and short turning point: 96.553
Pressing position: 98.116, 99.157
Support position: 95.238, 94.004
Trading strategy: bullish above 96.553, target 98.116, 99.157
Alternative strategy: bearish below 96.553, target 95.238, 94.004
The above information is provided by special analysts and is for reference only. CM Trade does not guarantee the accuracy, timeliness and completeness of the information content, so you should not place too much reliance on the information provided. CM Trade is not a company that provides financial advice, and only provides services of the nature of execution of orders. Readers are advised to seek relevant investment advice on their own. Please see our full disclaimer.
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